Month: January 2023

Categories
Uncategorized

What to do before refinancing your mortgage

What to consider before refinancing your mortgage featured image

Refinancing your home can have many benefits. You could pay off your mortgage earlier and potentially save thousands
of dollars in interest payments. However, before taking the leap, there are some important financial factors to
consider.

Know your finances

Just like when you initially purchase a home, refinancing your home requires you to have your finances in order.
Examine your budget closely before deciding whether you want to take on a higher monthly payment in favor of a
shorter mortgage term. 

Your credit score will also factor into your ability to refinance your home. Check your score and see if any red
flags pop up. The sooner you can identify possible problems and ways to improve, the better chance you have of
improving your credit before applying for new mortgage terms.

Know your home’s value

Refinancing options are also based on the value of your home. If you still owe more on your mortgage than your home
is worth, your options are more limited. Increasing your home value is a great way to expand your refinancing
possibilities, as you’ll be able to consider cash-out refinancing. 

Hire a home appraiser to help you determine the value of your home. If there are any repairs or upgrades you can make
to increase the value, consider budgeting for them before refinancing. 

Getting your finances in order and increasing your home value are both important steps to take before refinancing
your mortgage. If you’re unsure of your options, discuss the details with your lender.

Categories
Uncategorized

Functional decorating: Game room design tips

When homeowners get to decorating, game room design might not be the priority. Decorating a dedicated space for video games or board games might not top the list of interior design projects, but it can make a huge difference in your entertainment experience.

However, it’s important to keep your decorating ideas practical and focused on gaming.

Game room furniture basics

When it comes to furniture, there are plenty of video game room ideas you can use in your space. The key to perfect game room furniture setup is to plan for optimal comfort and performance in multiple scenarios.

After all, the perfect solo seating arrangement won’t do the job when it’s time for an eight-person tournament.

One of the simplest ways to go about setting up your furniture is to choose pieces that are easy to maneuver and reconfigure based on need. Sectional sofas, cushioned folding chairs and bean bags are all comfy options you can use in a variety of situations and design styles.

Decorating for your favorite games

If your game room focuses on billiards or other games involving large equipment, you’ll want to plan your decor around them. A ping pong table, foosball table or pool table will need ample space surrounding for players to maneuver.

Arrange seating far enough away to prevent accidental injury or game interruption. For a stylish yet practical approach, opt for bar-style seating on one or more edges of the room for spectators. Include plenty of surfaces for food, drink and game equipment to keep everybody comfortable and focused on fun.

Game room design is dependent on many factors, including the type of games you plan to play and how many players will be using the space. Using these tips and adding your own personal flair, you’ll be able to create the perfect atmosphere for the ultimate game experience.

Categories
Uncategorized

Hidden Home Buying Costs You Should Prepare For

When you budget to buy a home, you sit down, do the math, and try to estimate what all of your monthly costs will be. There are so many monthly costs that come with being a homeowner that can make the whole process complicated. Sure, you have taken the standard costs into account like home insurance, property taxes, and even utilities. But there are a few out-of-the-box costs that you’ll need to consider for your house hunt.

Flood Or Other Natural Disaster Insurance

Natural disasters are costly and devastating. Many homeowners who live in areas that are affected by natural disasters like floods and earthquakes often opt for additional coverage for their homes. Premiums for earthquake and flood insurance often end up being very high. As a natural disaster strikes, these premiums can go up even more. If you live in one of the high-risk areas for natural disasters, you’ll want to check with your insurance agent ahead of time to plan for the additional costs that these special kinds of insurance will incur.

Water Costs During A Drought

There are many areas across the US that suffer drought conditions from time to time. Your water bill can skyrocket during these times. It’s best to continue conserving water and watch your bill closely in order to try and save some costs. There’s not a whole lot you can do otherwise to control your bill. You’ll need to stay prepared with some extra cash on hand in case of these emergencies and know that costs can rise due to different environmental conditions.  

Tax Hikes And Special Assessments 

As a homeowner, you’ll need to prepare for different kinds of assessments and tax increases. If your condominium complex needs significant repairs then you’ll probably end up paying an assessment to help offset the costs. This is what comes with belonging to a homeowner’s association. 

You can’t prevent that the town is building a brand new school that requires a tax increase, nor can you prevent roof damage on one of the buildings in your complex. Financially, this is a hidden cost of homeownership that you should be prepared for. 

Unexpected Maintenance Costs And Home Furnishings

Once you move into a home, you’ll need to prepare for the unexpected. The dishwasher may need to be replaced. The roof may need repair. The walls may need some paint. 

When you buy a home you may also need a bunch of things to furnish the home. These could include dishes, pots and pans, sofas, beds, and more. You don’t want to leave your new home completely empty! You also don’t want to be without vital appliances like an oven or a sink for too long if they are outdated or in disrepair. This is why it’s a good idea to have extra money on hand to deal with any of these costs.

The best rule of thumb to follow when buying a home is to always be prepared with a but of extra cash on hand to avoid major issues down the road.           

Categories
Uncategorized

5 Alternatives to Carpeted Stairs

Carpet has been a popular cover for stairs for decades and continues to endure in modern trends. There are many benefits to carpet on stairs, including noise reduction and extra cushioning. However, carpet on stairs is not for everyone. If you’re considering an alternative to carpet on the stairs in your home, here are the best options to consider:

Wood

Wood is the most common and traditional building material for stairs. No matter what you have on the surface, wooden stairs are probably underneath. Hardwood makes a great material for stairs because of its durability. You can also stain or laminate it for a specific look and finish. The major disadvantage of hardwood on stairs is that it can be slippery. The best way to mitigate this is with strips of anti-slip tape at the end of the stair tread.

Tile

Tile is an incredibly versatile and popular option for stairs. Because tile comes in a plethora of colors and textures, you have an enormous amount of freedom in terms of design. There are stone and ceramic tiles for a classic, luxurious feel and smaller artistic mosaic options. With tile, you can make your staircase a statement in your home rather than a purely functional feature. Textured tiles are a great way to prevent slipping.

Stone

Solid stone or concrete stairs are common in industrial or commercial buildings. While they’re virtually indestructible, they are heavy enough that you’ll need to make sure your foundation can support them in your home. Stone and concrete stairs will stand the test of time and provide a cool industrial style to your home. However, this is one of the more expensive options available, which is why many designers recommend using stone veneer as a cheaper alternative.

Cork

Cork is an excellent alternative to carpet because it provides cushion and comfortable texture. It looks like natural wood but is low maintenance and durable. The texture also has built-in protection from slipping which increases the safety of the stairs. Cork is also a sustainable material option for those interested in making green choices in their home renovations.

Leather

Leather is an up-and-coming trend in stair coverings. It’s soft like carpet but has a more luxurious finish while staying comfortable underfoot. Leather stair treads come in plenty of colors and textures to fit your style needs, including some with special designs and borders. Leather requires regular maintenance to keep looking and performing its best. Protective finishes to prevent staining and moisture damage are crucial.

While there are many styles of carpet available for your stairs, these alternatives might be a suitable option. Keep these materials in mind if you’re considering making a change.

Categories
Uncategorized

Fundamental homeowners insurance policies you need to know

homeowners insurance featured image

With all the different types of homeowners insurance, the process of choosing a policy can be confusing. 

To help, here’s a basic guide to some major types of insurance policies. 

What is an HO-1 home insurance policy?

HO-1 insurance is the simplest of policies offered. It only covers your home structure and a few home features.

It also covers attached structures such as garages and patios. This policy offers funding in the case of storms,
fire, wind damage, theft and a few other peril categories. 

HO-1 insurance doesn’t cover personal belongings, however. So if your computer or furniture is damaged during a
storm, replacement cost would need to be covered by another policy. 

What is an HO-2 home insurance policy?

An HO-2 insurance policy offers a wider range of coverage. It provides financial security to home structure and
personal property. 

What are HO-3 home insurance policies?

An HO-3 home insurance policy is the most common homeowners insurance type. In addition to coverages seen with HO-1
and HO-2 policies, it covers additional items. These include liability, payments for medical bills and living
expense stipends. 

What is HO-4 Renters Insurance?

HO-4 is a policy offering protection to the personal property of individuals renting a space. It is not technically a
homeowners insurance policy, but important for renters to have. 

Consider your home needs when purchasing homeowners insurance. Protect your property and belongings with the right
insurance.